AM Comments 11/17/16
Thursday, November 17, 2016, 2:11 PM
Submitted by: Dustin Weiner
The markets are trying to work a little higher this morning with support coming from the outside markets overnight and a strong export sales report in corn this morning. Corn sales came in well above the average trade guess (soybean sales were within guesses, but at the top end of the range) which could provide a little support. As for the outside markets, after the $US made new highs yesterday it was down hard overnight, although it is currently making an attempt to rally back to steady. This weak dollar is likely what allowed our markets to leak a few cents higher during the session last night.
The weather in South America still looks favorable for planting and crop development as timely rains are still in the forecast for Brazil and drier weather is forecasted for Argentina which should allow planting to progress nicely. Overall for today, we look for things to start a little higher but expect another choppy day as the market watches for something new to trade off of…
Corn steady to 1c higher
Have a great day!
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